CannabisNewsBreaks – The Green Organic Dutchman
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Posted On: 10/18/2019 5:31:51 PM
CannabisNewsBreaks – The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX: TGODF) Details New Strategic Plan to Cut Financing Requirements while Preserving Path to Profitability
The Green Organic Dutchman Holdings (TSX: TGOD) (OTCQX: TGODF), a leading producer of premium certified organic cannabis, today announced its new strategic plan to reduce its financing requirements while maintaining its path to profitability. Per the update, the company intends to improve agility by reducing capital requirements, establishing a simple way to scale up production as more retail locations open and legal sales increase, and adapting to slower legal market conversion by deferring excess capacity and expenses. TGODF also maintains its objective to become EBITDA and operating cash flow positive by Q2 2020. “These actions are logical next steps in TGOD's road to profitability. While we are committed to – and our strategy continues to leverage – our unparalleled scale as an organic producer as well as our international assets, we have identified areas where our scale would not provide for meaningful returns in the near term given the slower pace of legal market conversion. We will optimize our operating efficiency by deferring excess capacity and expenses, whether they center on production facilities, international expansion projects or technology,” TGODF CEO Brian Athaide said in the news release.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
The Green Organic Dutchman Holdings (TSX: TGOD) (OTCQX: TGODF), a leading producer of premium certified organic cannabis, today announced its new strategic plan to reduce its financing requirements while maintaining its path to profitability. Per the update, the company intends to improve agility by reducing capital requirements, establishing a simple way to scale up production as more retail locations open and legal sales increase, and adapting to slower legal market conversion by deferring excess capacity and expenses. TGODF also maintains its objective to become EBITDA and operating cash flow positive by Q2 2020. “These actions are logical next steps in TGOD's road to profitability. While we are committed to – and our strategy continues to leverage – our unparalleled scale as an organic producer as well as our international assets, we have identified areas where our scale would not provide for meaningful returns in the near term given the slower pace of legal market conversion. We will optimize our operating efficiency by deferring excess capacity and expenses, whether they center on production facilities, international expansion projects or technology,” TGODF CEO Brian Athaide said in the news release.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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